You’ve worked hard to live the dream of owning a home or business. Most of the time, hard, work, property insurance and a little luck are enough to keep both safe from harm. Then along comes a flood through a hurricane, rapid snow melt, new development in your area or rain that just won’t go away.
It happens more often than you might think. If your property is in what’s called a “100 year floodplain,” for instance, you have a one in four chance of a flood during the life of a 30 year mortgage¹. Greater odds than many other risks, including fire.
LET THE FACTS BE YOUR GUIDE
Some common misconceptions about floods and flood insurance:
“I’m protected. I have property insurance”. Normally, homeowners insurance or your commercial/Business Owner’s policy exclude flooding.
“Fire is my number one fear”. Understandable, but in reality, flood is the number one natural disaster in the U.S.²
“A little water couldn’t result in that much damage”. Think again and see the chart below…..
ONE INCH OF WATER CAN ADD UP TO THOUSANDS³
Doors & Base Trim & Windows $450
Electrical & Plumbing $150
Finished Floor-Wood-Carpet $7,900
Kitchen & Bath Cabinets $50
Repairs to Furnace/AC $150
Bedroom Furniture $150
Dining Room Table & Chairs $100
Kitchenware & Food $50
Living Room Furniture $250
Computer Accessories $40
Accent Furniture & Accessories $70
Loss of Personal Items $250
TOTAL LOSSES $10,600
Without flood protection, you could bear responsibility for all of the above. Why leave yourself vulnerable?
MAP YOUR RISK
The Federal Emergency Management Agency (FEMA), which administers flood insurance, works with local communities across the country. You can get a detailed, digital flood hazard map of your area by visiting the FEMA Map Service Center site at msc.fema.gov/portal.
Then give us a call at King Insurance & Financial Services at 440-243-5555 to help you interpret it.
DON’T WAIT UNTIL WATER IS AT YOUR DOOR!!
1, 2 ,3 Source: floodsmart.gov